by Guest » Tue Nov 25, 2014 09:51 pm
was issued a check from insurance carrier for a recent theft we had. while I agree with the deprecated percentages, we disagree on how they came up with the cost of the items. while we submitted pricing from local vendors and store, the insurance company uses a large buying group in a state far from us. They used the pricing the large buying group can buy things for then apply the depreciated percentages to that amount. we have the option to buy that item from that buying group, but would still end up paying the buying group if we buy more that what the check they provided will cover. back to the subject - is there a time limit on cashing the check from the insurance company? nothing is posted on the check as in "cash in x number of days. we want to contest the practice of using a supplier for the items not available to the public and only through this insurance process.
Posted: Wed Nov 26, 2014 12:33 am Post Subject:
What they owe is what they owe. Cashing the check won't relieve them from owing you more if that is the case. If nothing else, you can always obtain a replacement check.
Posted: Sun Nov 30, 2014 03:06 pm Post Subject:
The amount of time it takes for a check to expire or go stale if not stated on the check itself may be subject to state laws. In my experiences, even after checks go stale the insurance company will typically reissue without much delay.
As far as cashing a check that you do not agree with, I would recommend speaking with an attorney as different state laws may apply. At a minimum I would recommend sending a letter accepting this check for the undisputed amounts and stating that you are not in agreement with their assessment.
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